Tullow Oil:Mahogany-5 Successfully Appraises Southeast Jubilee

9th Jun 2010 07:07

LONDON (Dow Jones)--Tullow Oil PLC (TLW.LN), an oil and gas company, said Wednesday the Mahogany-5 appraisal well has continued the successful appraisal of the area immediately to the southeast of the Jubilee Field offshore Ghana. MAIN FACTS: -The results of drilling, wireline logs and reservoir fluid samples show that the well penetrated a total net oil pay of 23 meters in sandstone reservoirs over a gross interval of 51 meters. -Reservoir fluid samples recovered 28-32 degree API oil and pressure data have confirmed reservoir communication with the previously drilled Mahogany-4 well. -The well was drilled by the Atwood Hunter rig to a total depth of 3,988 meters in a water depth of 1,149 meters. -The well is located 62km offshore and about 7km southeast of the Mahogany-1 well, the Jubilee discovery well. -The rig will now leave Ghana to work for another operator and will return in the fourth quarter of 2010 on a planned nine-month drilling program in the West Cape Three Points license. -Tullow has a 22.896% interest in the West Cape Three Points license which is operated by Kosmos Energy. -Shares closed at 1104 pence Tuesday. -By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; [email protected] (END) Dow Jones Newswires June 09, 2010 02:07 ET (06:07 GMT)